China Reinsurance (Group) Corporation

China Reinsurance (Group) Co., Ltd

Headquartered in Beijing, China Reinsurance (Group) Co., Ltd. is a wholly state-owned insurance group company and a central financial enterprise.

China won one belt, one road best practice listed company in December 5, 2018, the eighth Hongkong international financial forum and China Securities gold Bauhinia Award.

Group affiliation

Holding subsidiary of China Re Group

At present, China Re Group has six holding subsidiaries, namely: China property reinsurance Co., Ltd., China Life Reinsurance Co., Ltd., China Dadi Property Insurance Co., Ltd., China Re Asset Management Co., Ltd., China Insurance newspaper Co., Ltd., Huatai Insurance Brokerage Co., Ltd., and one subsidiary, insurance Vocational College. Its business involves in reinsurance, direct insurance, investment, media, insurance brokerage, education and training and other fields, forming a diversified and professional group business structure and management pattern.

Company profile

China Reinsurance (Group) Co., Ltd. (formerly known as China Reinsurance Company) (hereinafter referred to as "China Reinsurance group") is the only wholly state-owned professional reinsurance company established on the basis of the former China Reinsurance Company Limited (established in January 1996) with the approval of the State Council. It was formally established on March 18, 1999 and restructured on the basis of the former China Reinsurance Company in August 2003 The registered capital of the wholly state-owned insurance group company is 3.9 billion yuan. On October 10, 2007, China Reinsurance (Group) Co., Ltd. has completed the overall restructuring since it received a capital injection of US $4 billion from the Central Huijin Investment Co., Ltd. last year. On October 10, China Reinsurance (Group) Co., Ltd., which was restructured as a whole, held its founding meeting and the first general meeting of shareholders in Beijing. The meeting announced that with the approval of the State Council and the approval of CIRC, China Reinsurance (Group) Co., Ltd. was jointly established by the Ministry of Finance and the Central Huijin Investment Co., Ltd., with a registered capital of 36.149 billion yuan. The Ministry of Finance and the Central Huijin Company hold 14.5% and 85.5% shares respectively. The company inherits the assets, liabilities, business and employees of the original China Reinsurance (Group) Company and its six subsidiaries, and is still referred to as "China Re Group" for short. In accordance with national laws and regulations, the general meeting of shareholders deliberated and passed the articles of association, rules of procedure of the general meeting of shareholders, and elected the first directors and supervisors of China Re Group.

China Re Group announced that after the establishment of the joint stock company, it will continue to reform the operation mechanism, improve the corporate governance structure, improve the internal management, improve the quality of the team, establish a professional and diversified operation with reinsurance as the core, realize sustainable development, and provide more and more professional services and support for the development of China's insurance industry.

With the approval of the State Council and CIRC, China Reinsurance (Group) company was wholly restructured from a state-owned company and was established on October 30, 2007. With a registered capital of 36.149 billion yuan, the company ranks first in Asia and fifth in the world.

At present, China Re Group has successfully completed the asset appraisal, financial restructuring and other work, and the preliminary work of joint-stock reform has been successfully completed. According to the overall plan of capital injection and restructuring of China Re Group, on the basis of introducing strategic investors, China Re Group will choose the opportunity to issue shares to the public.

Liu Jingsheng, chairman and President of China Re Group, said that at present, the company has a complete insurance industry chain including reinsurance, direct insurance, asset management, insurance brokerage and insurance media. As of September 30, 2007, the total assets of the group reached 94.005 billion yuan. In the first three quarters of this year, the insurance business income has reached 29.03 billion yuan, an increase of 41.6% year on year.

The registered capital of China Re Group is 36.149.8 billion yuan, and its business scope is to invest and establish insurance enterprises; supervise and manage various domestic and international businesses of holding investment enterprises; investment businesses and domestic and international reinsurance businesses permitted by national laws and regulations; and other businesses approved by CIRC.

China Re Group is currently the largest reinsurance company in the mainland, accounting for nearly 80% of the domestic reinsurance market. Previously disclosed information shows that China Re Group will introduce domestic and foreign strategic investors on the basis of maintaining the principle of absolute state control in the future, and choose the opportunity to realize the public offering and listing of shares, so as to further enhance its capital strength and underwriting ability. According to the prediction of CIRC, China's premium income will reach 1 trillion yuan in 2010, and the reinsurance demand will reach about 100 billion yuan.

For many years, China Re Group has been performing the function of national reinsurance company and playing the role of main channel of reinsurance in China's insurance market.

The business origin of the company can be traced back to the reinsurance business of the people's Insurance Company of China, which was established in 1949. Up to now, the company has more than 50 years of experience in insurance and reinsurance business. It has established long-term good cooperative relations with all insurance companies, insurance brokers in China and more than 100 overseas insurance and reinsurance companies, and has a wide range of business expansion and cooperation channels.

Nature of Business

The business scope of China Re Group includes:

1. To operate and manage the legal reinsurance business and outstanding liabilities during the period of existence of legal reinsurance, and to operate and manage the outstanding liabilities of commercial reinsurance business;

2. Investment and establishment of insurance and reinsurance enterprises;

3. Operate and manage the fund utilization business permitted by national laws and regulations;

4. Operating policy business approved by CIRC and other business approved by relevant state departments;

5. Implement group operation, manage company assets and carry out capital operation.

Business purpose

The business purpose of China Re Group is: according to the national laws and regulations, give full play to the overall advantages of the group, implement diversified operation, investment and management, and ensure the preservation and appreciation of state-owned assets.

Development goals

The strategic development goal of China Re Group is to build a modern reinsurance financial group with sufficient capital, strict internal control, safe operation, good service and benefit, and international competitiveness under the guidance of scientific development concept.

Historical evolution

China Reinsurance (Group) Corporation originated from the people's Insurance Company of China, which was established in October 1949. It has a business history of more than 50 years.

In 1996, on the basis of the reinsurance Department of the people's Insurance Company of China, China insurance reinsurance Co., Ltd. was established, which filled the gap in the history of new China insurance that there was only reinsurance business but no reinsurance company.

On March 18, 1999, the national reinsurance company, China Reinsurance Company, was founded, which successfully realized the historic transformation to a modern commercial reinsurance company.

On December 22, 2003, after restructuring, China Reinsurance (Group) Corporation was established, which started a new page of the split restructuring and group operation of China's national reinsurance industry.

On October 10, 2007, with the approval of the State Council and CIRC, China Reinsurance (Group) Co., Ltd. was wholly restructured from the state capital injection into a joint stock company, and was established on October 30, 2007.

It will be listed on the main board of the stock exchange on October 26, 2015. Stock number: 1508

Company honor

On July 10, 2019, China Reinsurance (Group) Co., Ltd. ranked 76th in the Fortune 500 list.

In 2020, he was rated as one of the top 15 in the list of corporate reputation of China's Life Insurance Listed Companies in 2019 released by iimedia ranking.

In 2020, he was rated as one of the top 15 in the list of corporate reputation of China's listed auto insurance companies in 2019 released by iimedia ranking.

On May 13, 2020, China Re Group ranked 731 on the Forbes 2000 global enterprise list.

In July 2020, China Reinsurance (Group) Co., Ltd. ranked 74th among Fortune 500 in 2020.

Chinese PinYin : Zhong Guo Zai Bao Xian Ji Tuan Gu Fen You Xian Gong Si